Texas Insurance Code § 1103.056 Purchase Of Or Application For Policy By Third Party

Sec. 1103.056. PURCHASE OF OR APPLICATION FOR POLICY BY THIRD PARTY. An individual of legal age may in a single written document:

(1) consent to the purchase of or application for an individual or group life insurance policy by a third party; and

(2) designate or consent to the designation of any individual, partnership, association, corporation, or other legal entity as:

(A) a beneficiary of the policy;

(B) an absolute or partial owner of the policy; or

(C) both a beneficiary and an absolute or partial owner of the policy.

Added by Acts 2001, 77th Leg., ch. 1419, Sec. 2, eff. June 1, 2003.

Section: Previous  1103.002  1103.003  1103.004  1103.005  1103.051  1103.052  1103.053  1103.054  1103.055  1103.056  1103.101  1103.102  1103.103  1103.104  1103.151  Next

Last modified: September 28, 2016